Weekly Governance Update: Week of April 21st, 2025
One onchain proposal went up for a vote this week.
Proposals
MIP-X20: Gauntlet’s Monthly Recommendations
Summary: Last week, we covered Gauntlet’s latest slate of monthly recommendations. This week, the proposal moved to an onchain vote. It was successful.
Delegate Updates
Forum post: Add USDT0 market to Moonwell on OP Mainnet
Author: 0xMims
Summary: On Wednesday, Super Delegate 0xMims created a forum post outlining a proposal to add a USDT0 Core Market to Moonwell on Optimism. USDT0 is the multichain variant of Tether’s USDT, powered by LayerZero’s Omnichain Fungible Token (OFT) standard. Outlined in the post are general token information, decentralization, oracle assessment, risk assessment, and more.
Contributor Updates
Forum post: Gauntlet Weekly Market Update
Author: Gauntlet
Summary: Gauntlet posted a weekly update on Monday for the Moonwell markets covering the previous week.
- Base: No assets had an average supply cap usage of over 75%. The deployment had seven asset liquidations in the past week: mcbBTC ($61.46K), mAERO ($3.79K), mWETH ($985.73), mVIRTUAL ($840.82), mUSDC ($577.68), mwstETH ($557.11), and mcbETH ($313.93).
- Optimism: Four assets had an average utilization of over 75%: USDC (84.80%), USDT (80.25%), DAI (81.30%), and WETH (87.80%). The deployment had two asset liquidations in the past week: mOP ($141.41) and mwstETH ($0.10).
- Moonbeam: No assets had an average utilization of over 75%. The deployment had four asset liquidations in the past week: mFRAX ($221.43), mxcUSDC ($39.44), mGLMR ($16.52), and mDOT ($2.88).
- Moonriver: One asset had an average utilization of over 75%: FRAX (87.65%). The deployment had one asset liquidation in the past week: mMOVR ($2.08).
…
Forum post: Gauntlet - Cap Recommendations
Author: Gauntlet
Summary: Gauntlet announced they would use Cap Guardian to change caps throughout the week:
- MORPHO (Base) Supply Cap from 1M to 2M and Borrow Cap from 500K to 1M
Upcoming Events in Governance
Monthly Governance Call
Look for the next Monthly Governance Call on X on the last Thursday of the month, May 29th.